Etymology
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chump (n.)

1703, "short, thick lump of wood," of uncertain origin, perhaps a variant of chunk (n.) or a nasalized variant of chub (compare chuck/chunk and Old Norse kumbr for kubbr "block of wood"). Meaning "blockhead" is first attested 1883. Chump change attested by 1950.

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Definitions of chump

chump (n.)
a person who is gullible and easy to take advantage of;
Synonyms: fool / gull / mark / patsy / fall guy / sucker / soft touch / mug
From wordnet.princeton.edu